As part of its five-year strategy to have 250 operational outlets across the country, premium cookie brand Cookie Man is planning to invest Rs 25 crore by 2011-12 to expand its retail presence.
The company, a joint venture between Australian Foods India Pvt Ltd and Cookie Man Australia, started its India operations in 2000 and has currently 45 outlets.
“We have a five-year plan under which we are targeting 250 outlets across the country. As part of the project, we are planning to invest Rs 25 crore for increasing our retail presence by 2010-11,” Australia Foods India President, Mr Pattabhi Rama Rao sai d.
He said the company would open seven outlets during the first phase this year in Bangalore, Amritsar, Hyderabad, Nagpur and Cochin.
“We will focus on opening stores across high footfall locations such as shopping malls, airports and hypermarkets,” Mr Rao said.
He said the expansion would be carried out through a mix of company-owned and franchise operated outlets, but did not provide the exact figures.
Cookie Man has currently 33 company-owned outlets, besides 12 franchise operated stores. Mr Rao said the company is also entering into the health products category.
Source: The Hindu Business Line